<p>Hi. I have been working full-time this summer (actually, more than full-time as I have had two jobs) trying to earn some money for my anticipated expenses entering college. I know a certain amount of my income will not be counted, but can't find the specifics. I know someone can help me out here. I think my income is based on the calendar year, not the school year, and I also need to know if the income disregard amount is a gross amount before taxes, or after. I am trying to earn as much as I can but I know that over a certain amount I will lose 50%. By the time I lose some in taxes and help my parents pay for the gas to get me back and forth to work, extra expenses for lunch, etc (even carrying my own!) I am almost in the hole if I lose 50 cents of every dollar. Can someone give me a tutorial on this? I will be working work study on campus and I guess my work study award is based on the school year so I don't want to be working too many hours with both combined. Thanks so much.</p>
<p>The answer is that for FAFSA calculations you are "allowed" to earn $2,550.00 without triggering an increase in your EFC. </p>
<p>You can find the details on the page 10 of this government guideline.</p>
<p>PS Please note that your allowance might be greater because of an allowance for parents’ negative Adjusted Available Income.</p>
<p>Thanks xiggi; this was exactly the info I needed. Now I have to figure it all out. We also have another employment question. My mom hasn't worked for several years as she's been needed to care for my elderly grandparents and siblings. What their care cost would have been more than her earnings. She is considering taking some job that she could do in the limited hours available to her, maybe delivering newspapers early in the morning. I can tell from the FAFSA guideline that there is some advantage to having two employed parents, and regardless, my parents will still be below the CalGrant income limits. But beyond that, I don't understand how it works or how additional income as I described will change our financial picture with regards to financial aid (there are two of us in college). Is there a similar amount that my second parent can earn before it lowers our aid? She would prefer to be working full-time, regardless of the financial aid, but it doesn't fit in with our family obligations right now. Can anyone give me some insight as to this situation? She works so hard now that I don't want her to work even harder only to not help us all get ahead. Thanks.</p>
<p>It's been awhile since I first filed a FAFSA, but wasn't it possible to do an estimate without actually filing a FAFSA? Maybe you could try that. Put in different amounts for your Mom and the correct amount for your Dad and see what the EFC goes to. In our case, the other daughter in college made much more difference than EFC last year. We still paid way more to each school than the EFC. Now we will pay about the same amount for D2 as last. D1s school had their own method of EFC, I think.</p>
<p>also, on the side...your Mom's social security benefits and disability benefits are affected if she is out of work for 10 years. Something I didn't know until it was too late. </p>
<p>You sound like a nice kid. Good luck with all of this.</p>
<p>bbsister</p>
<p>There is a financial aid calculator on collegeboard.com that is pretty accurate and very helpful. You can plug in numbers (i.e. increase your family's income by x amount to include your mom's possible wages) and it will show you how much your EFC increases. Actually, the way you describe your situation, it might not increase too much. It really depends on how much your dad is currently making.</p>